Kum & Go to Begin $80M Expansion in Colorado's Pikes Peak Region
WEST DES MOINES, Iowa -- Kum & Go will launch a major expansion in the Pikes Peak and Colorado Springs region of Colorado starting early this year. The privately held convenience store chain expects to invest $70 to $80 million and build 20 to 25 stores over the next five years, resulting in approximately 150 new jobs by the end of 2013.
"Expanding into the Colorado Springs area made perfect sense to us," said Kum & Go President and CEO Kyle J. Krause. "We could see that this community is poised for future growth and have thoroughly enjoyed our presence in the Front Range and western Colorado. We also were impressed with the strong sense of family and core values that clearly resonates throughout this area. Whenever we visited Colorado Springs, the friendliness of local residents, as well as the professionalism of the business leaders and elected officials, was visible to us from day one."
The company first announced its acquisition of two sites in Colorado Springs earlier this month, as CSNews Online reported. Krause said the groundbreaking on the first Colorado Springs store will take place early this quarter, with others scheduled throughout 2012.
He noted that Kum & Go specifically selected this region from a list of 85 metropolitan statistical areas in 16 states. This move follow the retailer's announcement in July of a similar expansion plan for central Arkansas. There, Kum & Go also intends to invest $70 to $80 million to build 20 to 25 stores over five years.
The new Colorado Springs and Pike Peak region stores will join 39 existing Kum & Go locations in Colorado.
In total, the company operates more than 400 stores in Iowa, Arkansas, Colorado, Minnesota, Missouri, Montana, Nebraska, North Dakota, Oklahoma, South Dakota and Wyoming.